10 Jan 2022

JBC in the Media - CGTN

Meanwhile, time is also dwindling for the Iranian economy, especially for its sanctions-battered oil industry. According to analyst Viktor Katona from JBC Energy, the procedure of lifting U.S. sanctions against Iran seems to be mostly agreed and aligned upon. However, Iranian demands that oil exports should be restarted fully unencumbered and that oil revenues should be allowed to be repatriated without any provisos still present a challenge that needs to be surpassed. 

"The U.S.'s interest in bringing crude oil prices lower overall has become a positive factor for the Iran talks. By bringing back some 1.5-2 million barrels per day (bpd) of currently-sanctioned crude to the global market, Washington could alleviate domestic concerns arising from gasoline prices remaining the highest since late 2014." 

"This being said, a breakthrough in the current round of talks is still some way off, though a 2022 breakthrough is very much conceivable," Katona added.